Miami Marlins owner Jeffrey Loria is one of the worst owners in sports. He bought the team for $158 million in 2002 and even though the team has won a World Series, the constant moves and impatient spending has really killed the team in recent years.
Loria is reportedly looking to get out of the baseball business. Forbes reported Thursday that team president David Samson has said there’s a “handshake agreement” for Loria to sell the team for $1.6 billion.
However, there’s a few caveats to the reported deal.
According to Forbes, Loria is going to sell the team to an unidentified New York real estate developer. The developer is said to not have the money to immediately pay for the team because his money is tied up in real estate. It would have MLB taking on some debt.
Charles Kushner, the father-in-law of Ivanka Trump, was reportedly tied to the deal. But sources told the Miami Herald that was untrue. Kushner’s son Jared is an adviser to President Trump and Loria did donate $125,000 to the Trump campaign, the paper reported.
It’ll be interesting to see how the sides will wheel and deal to get the purchase done. This will probably develop more over the course of the year.